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In the wake of NBA Hall of Famer Michael Jordan’s 3 billion sale of the Charlotte Hornets, J.Cole has acquired a share of the franchise.
On Friday (Jun. 2), Jordan sold a majority of his stake, which he has owned for over a decade, to a group including the multi-platinum and Grammy-nominated rapper.
Forbes reports the buying group also consists Gabe Plotkin, a hedge fund founder who already owns a minority stake in the Hornets, Rick Schnall, a private equity firm president who owns a minority stake in the Atlanta Hawks, North Carolina country music artist Eric Church, former minority stake owner Dan Sundheim, Ian Loring, Dyal HomeCourt Partners, and local investors Amy Dawson and Damian Mills. Jordan will also maintain a minority stake with the Hornets.
“That boy from Fayetteville, NC is now a part of the new ownership group of the Charlotte Hornets,” Dreamville co-founder Ibrahim Hamad reacted on social media. “Safe to say I never met anyone who sets such high goals for himself and crosses them out at a higher rate, that shit inspiring. Congrats @JColeNC Shots of Azul tonight my boyyyyy.”